ETCO INDUSTRIES PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 9(2)(2), MUMBAI

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ITA 4517/MUM/2018Status: DisposedITAT Mumbai04 December 2019AY 2012-135 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the commission paid was an allowable deduction as it represented a shortage in realization of invoice value and was not taxable in India. Therefore, TDS was not applicable.

What were the facts?

The assessee claimed disallowance of overseas commission for goods exported. The Assessing Officer disallowed the commission for failure to furnish documentary evidence and for want of TDS. The assessee contended that the commission was paid as per contractual terms for services rendered outside India.

What were the issues?

Whether overseas commission paid as per contractual terms for exported goods is an allowable deduction and if TDS is applicable on such payments.

Which sections of the Income-tax Act were involved?

Section 40(a)(i)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: HON’BLE SHRI C.N. PRASAD, JM & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Shri Anuj Kishnadwala-Ld. AR
For Respondent: Shri Maurya Pratap-Ld. DR

Heard together (2 matters)

I.T.A. No.4517/Mum/2018
I.T.A. No.4516/Mum/2018

Read from the judgment's own cause title. This page is filed under one of them.

आदेशकी�ितिलिपअ�ेिषत/Copy of the Order forwarded to : अपीलाथ�/ The Appellant 1. ��थ�/ The Respondent 2.

ETCO Industries Private Limited Assessment Years :2012-13 & 2014-15

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